Value-Based Care Market Seen Soaring 20.03% Growth to Reach USD 12.4 Billion by 2030, Projects Univdatos Market Insights

Key Highlights of the Report:

• In 2024, Humana, a healthcare insurance company, has announced to expand its wellness centers across the United States. These value based care clinics will integrate primary care, specialty care, and care coordination services to improve patient outcomes and reduce healthcare costs.
• In March, 2023, Evolent Health, has announced to expand its virtual care offerings to support value based care initiatives which will include remote patient monitoring telehealth, and care management tools to enhance patient engagement and care coordination.
• In 2021, Anthem, a major Health Insurance Provider, launched the Sydney Health platform in 2021 which aims to improve care coordination, patient engagement, and population health management for value- based care programs.
• In 2021, Signify Health, a healthcare technology launched its Care Coordination platform which uses data analytics and technology to support care teams in managing high-risk patients and coordinating care across the continuum.
• In 2020, Optum, a leading healthcare services company, introduced its PQRS solution which helps physicians track, report, and improve their performance on quality measures required for value based reimbursement.

According to a new report by Univdatos Market Insights, Value-Based Care Market in India, is expected to reach USD 12.4 Billion in 2030 by growing at a CAGR of 20.03%. Value-based care is the lucid idea of tweaking quality and outcomes for patients. This is based on the structured set of changes in the ways a patient receives care by making healthcare proactive instead of reactive, preventing problems before they start. Its aim is to standardize healthcare processes through best practices such as Mining of data and evidence. Value-based care market refers to the industry and ecosystem surrounding the healthcare model, including healthcare providers, payers, technology vendors, and service providers that enable and support value-based care initiatives. In this, doctors and other health care providers work together to manage a person’s overall health, while considering an individual’s personal health goals. For example, doctors might coordinate an individual’s blood work so that they only need to go into the clinic once

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The report suggests that the “shift from traditional fee-for-service reimbursement towards alternative payment structures” is one of the major factors driving the India Value-Based Care Market during the forthcoming years. This transition aims to align healthcare provider incentives with delivering high-quality, cost effective care, and improving patient outcomes. This model inadvertently encourages overutilization of services and drive up healthcare costs without necessarily improving patient outcomes. Alternative payment structures, often referred to as value-based care payment models, aim to address the shortcomings by tying reimbursement to quality metrics, patient satisfaction, and overall health outcomes. Alternative payment structures are supported by healthcare reforms and initiatives aimed at controlling costs and improving patient outcomes. It incentivizes healthcare providers to focus on preventive care, care coordination, and efficient resource utilization, aligning with the goals of value-based care.

Apart from this, rising healthcare costs, shift towards preventive and chronic care, demand for improved patient outcomes, technological advancements also positively impact the market’s growth. Beside this other factors are government initiatives and regulations, pressure to improve quality and efficiency, shift in reimbursement structures affects the market. A wide range of investments have adopted strategic alliances in this area, thus suggesting huge potential in this area. Some of the recent strategic alliances are:

• In 2021, United Health Group, a diversified healthcare company, acquired Change Healthcare, a healthcare technology and analytics company which was aimed at improving data analytics, revenue, cycle management, and value-based care solutions for United Health’s network.
• In 2021, Cigna, a healthcare insurance company, partnered with Oak Street Health, a value based primary care provider which was aimed to offer Cigna’s Medicrae Advantage Members access to Oak Street Health’s integrated, technology-enabled primary care services.
• In 2020, Cerner Corporation a leading health information technology solutions provider announced a strategic collaboration with Lumeris, aimed to help healthcare organizations transition to value-based models.
• In 2020, Anthem a major health insurance provider acquired Beacon Health Options aimed to strengthen capabilities in integrated, value-based behavioural healthcare.
• In 2020, Optum acquired naviHealth, provider of post-acute care management solutions aimed to strengthen capabilities in managing the transition of patients between different care settings, a key aspect of value based care.
• In 2021, Centene acquired Magellan Health, behavioural health and specialty services provider aimed to strengthen capabilities in integrated, value-based behavioural health services.

Bundled Payment Sector Gaining Maximum Traction in Market

Bundled payments are an alternative payment model where healthcare providers receive a single, comprehensive payment for an entire episode of care, such as a surgery or treatment for a specific condition. This approach incentivize providers to coordinate care across different settings and control costs while delivering high-quality outcomes. It’s a system intended to improve coordination between physicians, hospitals, rehab facilities, and home care agencies. Several healthcare organizations have launched bundled payment programs, particularly for orthopedic procedures like joint replacements and spinal surgeries, but also for other conditions like cardiovascular disease and certain cancers. By focusing on specific procedures or medical conditions and defining an episode of care, bundled payments provide a way for specialty provider organizations to engage in value-based payment in a manner that is aligned with their influence over healthcare expenditures.

Conclusion

In conclusion, the global value-based care market represents a transformative shift in Healthcare delivery of high- quality, cost effective care that focuses on patient outcomes and experiences. Looking ahead, the future of the global value-based care market appears promising, with opportunities for continued growth, innovation, and collaboration among healthcare stakeholders. As healthcare systems continue to evolve and adapt to changing patient needs and healthcare landscape, value based care will play an increasingly integral role in shaping the future of healthcare delivery worldwide. By embracing value based care principles and leveraging technology- enabled solutions, healthcare organizations can drive meaningful improvements in patient outcomes, enhance care delivery efficiency, and ultimately achieve the triple aim of better health, better care, and lower costs.

As the global value-based care market continues to evolve, healthcare stakeholders will need to navigate related to data interoperability, provider engagement, patient-education, and the development of sustainable financial models. However, the potential benefits of value-based care, including improved patient outcomes, reduced costs and increased provider satisfaction, are driving its widespread adoption worldwide.